The idea would require legislative approval and the governor’s signature to take effect. The envisioned corporation could have legal authority to purchase and disburse property, commissioners said on March 12.

The commission said it expects the consultant to complete writing the legislation within four months, after which town meeting approval is needed to request the home rule petition.

The officials said an economic corporation with special authority is needed to spur economic development, especially in the South Hadley Falls area.

“If the town of South Hadley is interested in developing the Falls . . . we need to be proactive,” commission Chairman Jeffrey LaBrecque said.

The town’s planner, Richard Harris, said a market analysis would eventually be needed to ascertain what is feasible.

Harris said an analysis would be expensive. He did not speculate what that might cost.

“We have to stay focused … to develop that long term plan,” commissioner Jacqueline Charron said, “that will go with the master plan.”

According to Harris, the only scientific analysis that has been completed shows the town has “affordable housing needs.”

In a related matter, LaBrecque said the owners of Crack of Dawn restaurant site, recently damaged by fire, plan to demolish the structure.

The chairman also said “there is some hope” the owners “might be able to reconstruct” the restaurant, but said they are keeping their options open.

A discussion about the wisdom of asking repair and auto body shops to relocate to more industrial-looking areas revealed that “there is not much in the way of industrial-zoned land that is not developed,” Harris said.